Niti Aayog proposes to include EVs in RBI’s priority-sector lending guidelines
NITI Aayog has proposed government to include electric vehicles in the Reserve Bank of India’s priority-sector lending guidelines, the move it says will give a significant push to retail lending for EVs.
NITI Aayog, in its report on EVs with Rocky Mountain Institute (RMI) and RMI India released on Friday said, banks and non-banking financial companies (NBFCs) in India have the potential to achieve an electric vehicle (EV) financing market size of Rs 40,000 crore by 2025 and Rs 3.7 lakh crore by 2030.
“However, retail finance for EVs has been slow to pick up,” it said.
